CMUV Announces Yr Conclude 2020 Economic Outcomes

George T. Taft

Push launch articles from World Newswire. The AP information staff was not involved in its generation.

El Centro, CA, Jan. 29, 2021 (World NEWSWIRE) — by way of NewMediaWire — CMUV Bancorp, the keeping corporation for Group Valley Bank, is happy to announce unaudited 12 months-stop outcomes for 2020. Earnings for the calendar year ending 12/31/2020 have been $3,386,757. This is a 40% raise above year-finish 2019 results. Total Property arrived in at $260 MM, marking the 1st time that the bank has surpassed the $250 MM threshold. Whole financial loans reached $208.7 MM, a 28.8% improve about the ending numbers for 2019. Whole Deposits enhanced from $170 MM at the finish of 2019 to $207 MM at 12/31/2020.   Earnings for each share for 2020 were being $1.31, a 24% boost above the $1.06 for each share earnings in 2019.

The Lender ended 2020 with a Neighborhood Bank Funds Leverage ratio of 10.34%. This is nicely over the ratio expected to be viewed as a nicely-capitalized financial institution. Our Allowance for Financial loan and Lease Losses finished the year at $2,187,983 or 1.05% of complete financial loans. Non-accrual and Previous Due Loans keep on being extremely lower at just .50%. As of 12/31/2020, there are no loans on deferral or modified payments. Board and Management believe the ALLL is fully funded at this time.

12/31/20 book benefit of the prevalent inventory was $11.58 for every share (diluted). The common stock (CMUV) was buying and selling at $9.35 as of December 31, 2020. ROAA for the 12 months ending 12/31/2019 was 1.42% and ROAE came in at 13.83%.

The benefits sent in 2020 are practically nothing shorter of phenomenal considering all that the lender endured via this horrific pandemic.  The sturdy yr in 2020 allowed the financial institution to proceed with the quarterly dividend began in 2019 and the Bancorp has now returned in excessive of $1.1 MM back to its shareholders in the final 6 quarters.

We thank every of you for currently being a valuable shareholder in Your Local community Valley Lender.

Jon A Edney
[email protected]

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